A locally owned Rowe’s IGA Supermarket could fill a vacant Harveys space at 1020 Edgewood Ave. N. in Northwest Jacksonville.
The Mayor’s Budget Review Committee will consider a request Monday by the city Office of Economic Development to award a $750,000 grant to Miami-based Saglo Development Corp., owner of Commonwealth Shopping Center, to remodel the store.
A project summary states Saglo and Rowe’s plan $3.5 million in improvements to the 49,000-square-foot store.
The landlord and tenant will put $3 million toward interior remodeling, fixtures, point-of-sale equipment, refrigeration cases and other upgrades. The additional $500,000 would go parking lot improvements, signage, building painting and landscaping.
The summary says the investment will be completed through a tenant build-out lease provision between Rowe’s and Saglo, but does not give the amount each company will invest.
Saglo purchased the 19-acre property and 81,500-square-foot building in February 2017 for $5.2 million through Commonwealth SDC LLC, according to Duval County Property Appraiser records.
The shopping center has a 475-space surface parking lot.
“If successful, I will open a store there,” Rob Rowe, owner of Rowe’s IGA Supermarkets, said by email Friday.
The budget review committee will consider using $750,000 of $3 million in the Northwest Jacksonville Economic Development Fund earmarked for healthy food affordability, education and promotional programming addressing food deserts.
The Office of Economic Development summary said the market has been hesitant to invest in the economically distressed area without assistance.
Saglo and Rowe’s must obtain a certificate of occupancy from the city before the grant is issued. According to the economic development office, the development agreement will include a clawback provision of $150,000 per year over five years to ensure the project operates as a grocery store.
Saglo owns 20 shopping centers with about 1.75 million rentable square feet in Florida and Georgia.
The budget review board meets at 2 p.m. Monday at City Hall, 117 W. Duval St.
